Agency
In South Dakota, a real estate agent who represents neither the buyer nor the seller but assists both parties complete a transaction is sometimes called a:
ADual agent
BTransaction broker or facilitator✓ Correct
CBuyer's agent
DDesignated agent
Explanation
A transaction broker or facilitator assists both parties in completing a real estate transaction without representing either party as a client. They provide limited ministerial services rather than full fiduciary representation to either party.
Related South Dakota Agency Questions
- Which of the following is a fiduciary duty owed by a South Dakota seller's agent to their client?
- A South Dakota buyer's agent who discovers the seller's property has an illegal addition should:
- In South Dakota, a buyer's agent who learns that the listing price is significantly above current market value should:
- A South Dakota licensee working as a transaction broker owes which of the following to both parties?
- In South Dakota, an agent's 'duty of obedience' requires them to:
- In South Dakota, which of the following is a 'material adverse fact' that must be disclosed by an agent regardless of which party they represent?
- A South Dakota buyer's agent who fails to present a lower purchase offer to the seller because the agent believed the seller would reject it has:
- In South Dakota, which of the following actions would NOT violate a buyer's agent's fiduciary duty to their client?
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